Nathalia confident they'll beat floods

Residents in the flood-besieged Victorian town of Nathalia are increasingly confident they can beat the wall of water threatening them, with flooding declared to have peaked.

Up to 150 emergency personnel are continuing to lay sandbags and monitor the northeastern town's levee system to prevent devastation to more than 600 homes, the State Emergency Service says.

SES deputy incident controller Michael Morley said Broken Creek, which flanks the town, had peaked at 3.25 metres, having remained stable throughout Friday.

But with water set to remain above three metres and continue testing both the aluminium and back-up sandbag levees at least until Sunday, now was no time for emergency crews to relax, Mr Morley said.

"The teams are working reasonably hard. It's not a matter of sitting back and enjoying the scenery. This is a dynamic situation," he said.

"We can't categorically guarantee the survival of the levee."

As a result, the evacuation order currently in place was unlikely to be withdrawn over the long weekend, Mr Morley said.

About 90 per cent of town's 1400 residents have defied the order, choosing to stay and defend their properties, the SES estimates.

Sightseers are being warned to keep away from the town's protection zones to avoid putting extra pressure on them.

"There's an increasing number of people in boats coming near the levees, and the wakes they're creating are a real cause for concern," Mr Morley said.

In the centre of town, Nathalia Hotel manager David Byrne said residents seem more at ease on Friday than they have in recent days.

"It's a little bit more positive here than yesterday," he said.

"There's the feeling that if we make it through until (Saturday) afternoon, the levee's not going to let go but there's still that chance."

He said many of the 160 people estimated to have left town included mothers who'd taken their children to safety, while their husbands stayed behind to defend properties and help emergency crews with sandbagging.

Many locals had contributed "incredible hours" to the defence effort and, with the water having peaked, they deserved a moment to relax, Mr Byrne said.

"We're hoping a few people will come down tonight and have a few ales and be proud of the work they've done," Mr Byrne said.

About 17 homes outside the town's levee have succumbed to flooding, the SES said.

Floodwaters in the nearby town of Numurkah continue to recede slowly.

About 90 homes in the town have been flooded, and some areas remained isolated on Friday, the SES said.

The state and federal governments have announced grants of up to $25,000 for flood-affected businesses, producers and not-for-profit organisations in Shepparton and Moira for clean-up and recovery.

Fourteen flood-affected local government areas will also have access to low-interest concessional loans of up to $200,000, federal Emergency Management Minister Nicola Roxon and Victorian Emergency Services Minister Peter Ryan said on Friday.

The state government has also set up a flood response centre in the farming town of Tatura, near Shepparton, and says officers aim to contact all farmers affected by floods by the end of next week to assess losses and damages.